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Refinance Boom Brought on by Brexit !!

If you have been slow in deciding when to get a lower interest rate, now is the time! The Brexit exit by the UK has toppled economic factors to bring us the lowest interest rates in years! Give us a call at 901-388-1588 and we'll give you a free analysis of just how much you can save! The team at 1 STOP Mortgage gets excited about saving you money!

Jacob Passy reports today in Zillow that Refinance requests have skyrocketed due to falling mortgage rates after voters in the United Kingdom voted to leave the European Union, according to data from Zillow.

Zillow's research noted that the average rate for the 30-year fixed-rate conforming mortgage had dropped 19 basis points since the Brexit vote to 3.27%, approaching 2012 lows.

Zillow also found that purchase requests have similarly increased in the wake of the Brexit vote. Purchase mortgage requests rose 24% following the referendum.

"Compared to everything else going on in the world, U.S. mortgage-backed securities now seem like a relatively safe bet for global investors, and this flight to safety has created savings opportunities for U.S. homeowners and those who want to buy," said Erin Lantz, Zillow's vice president of mortgages, in a news release.

"The drop in rates following the vote sparked an influx of refinance activity, and may also be encouraging home shoppers to move quickly and lock in a rate..."